mPOS systems don’t take up too much space and are highly affordable and convenient. These systems are best suited for small businesses and entrepreneurs, small retail stores, pop-up shops, and quick-serve establishments.
MPOS systems are used to process payments and may have other capabilities such as inventory management, loyalty programs, sales monitoring, reporting and much more.
Whats a pos portable#
It is highly portable and allows you to attach other peripheral devices such as barcode scanners and receipt printers. They are generally classified into 3 types: Mobile POSĪ Mobile POS system or mPOS uses an electronic device such as a smartphone, tablet, or another mobile device as a terminal at which you can attach a credit card reader. POS systems are available according to the need of the organization, from simple processors to complex cloud systems depending upon the type (physical or online) and size (small, medium and large enterprises).
Whats a pos software#
The point of sale system can be integrated with your other systems and software such as eCommerce platforms, accounting apps, ERP and warehouse systems.Ī full-featured enterprise POS system can handle sales monitoring and reporting, analytics, inventory tracking, mobile connectivity, customer data management, employee management, and robust integrations. Today, with the help of a retail POS software you can simplify your billing, promotions, returns and much more. Gone are those days when retailers used a cash register to process sales after which the data was transferred to accounts and stock list. A POS system is used to conduct sales at brick & mortar and eCommerce stores.
But before that, let’s dive into understanding what is a ‘Point of sale’ system anyway. If the core of your business is to sell products then you should invest in a POS system today.
This number is expected to reach US$ 30.9 billion by 2024, i.e. This receipt is handed to the customer so that they can also keep track of the purchases they made at a retail store.In 2017, the global point of sale software market accounted for US$ 12.9 billion. ReceiptsĪfter the buyer has successfully purchased his desired products a receipt is generated for the esteemed customers which contain details like the amount of cash paid, number of products, name of items purchased, date and time of purchase, etc. All the information associated with the purchase is recorded on the POS system. This Point of sale transaction occurs when a buyer purchases a product from any medium and its return makes a payment. The number of products sold, the amount of cash received, the date and time of purchase, the employee handling the sale, and the customer information are recorded in the POS system in order to monitor these factors for future predictions. In both cases, the cash or payment is directly received by the seller. When a product or item is sold whether it’s a physical store or an online retail shop then this type of transaction takes place.